1. Field of the Invention
This invention relates generally to programmable keys and, more specifically, to a programmable key for storing encrypted data and a receptacle system for reading and programming the programmable key.
2. Description of the Prior Art
Presently, there are numerous types of programmable electronic keys. These electronic keys may be used for a variety of different purposes. For example, the programmable key could be used as a cash key, hotel key, data storage for storing information related to the individual holder, etc. However, many of the present methods used for above mentioned purposes have inherent flaws associated with them which will be addressed below.
Magnetic strip cards are one example of an electronic key which has been in use for the last several years. The majority of adults in the United States use a magnetic strip card for one reason or another. Magnetic strip cards are most frequently associated with credit cards and Automatic Teller Machine (ATM) cards. While the magnetic strip card may be widely used, it is susceptible to fraud and damage. New specialized optical encoding methods, as well as personal pictures on the front of the magnetic strip cards, have been implemented in order to help reduce the amount of credit card fraud. These precautions still do not deter a technically knowledgeable person from making a fraudulent card and using it in an ATM where no human presence is available to visually inspect the person and the magnetic strip card. Furthermore, most magnetic strip cards are extremely vulnerable to magnetic fields which can erase or damage the important 18 to 36 bytes of data stored on the card. When this happens, the customer's magnetic strip card is regulated to being a ticket from which a human attendant must manually enter in the account information on the front of the card. If the customer is unlucky enough to be at an ATM, the customer will not be able to get the needed funds.
Smart cards are a recent step towards greater security and flexibility in monetary transfer. Each smart card contains an integrated circuit which may be a EEPROM, ROM, RAM, processor, or a combination of the four. Already, throughout Europe, smart cards have been successfully hacked and emulated in both phone cards and satellite television applications. Due to the availability of complete technical specification and information on the smart card, a novice electronic hobbyist may be able to read and emulate a smart card.
The smart card's flaws do not stop there. Not only may smart cards be forged and emulated, but several different standards exist for smart cards. Currently, most smart cards are designed with eight (8) contacts, six (6) of which are utilized in data transfer and storage. However, contact positions on the cards vary widely and many manufacturers have developed smart cards with more than the normal eight (8) contacts. This means that if at any time a new smart card standard takes effect, most people will be forced to retrofit any device that utilizes a smart card with a new reader that will accommodate all the different standards. Furthermore, the smart card is readily susceptible to bending and scratched or damaged contacts which cause the data stored on the smart card to be lost or destroyed. In fact, most smart cards come with a warning label stating that the smart card should not be bent or unnecessarily removed form the smart card reader.
Therefore, a need existed to provide an improved programmable electronic key which may be used for the transfer of money and other important information. The improved electronic key must provided maximum security in order to prevent the improved electronic key from being forged and emulated. The improved electronic key must provided data integrity so that important data stored on the improved electronic key will not be lost or destroyed. Furthermore, the improved electronic key must be cost effective. The improved electronic key must be able to provide maximum security and data integrity at a price that is economically feasible to the average consumer.